global oil prices
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Diplomatic Backchannels and Munition Depletion Force a Fragile Pause in US-Iran Conflict
The US and Iran have paused military strikes for a second night as Omani-mediated talks progress, offering a brief respite from intense regional conflict.
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US-Iran Escalation: Ninth Night of Strikes and the Battle for the Strait of Hormuz
Iran vows to block the Strait of Hormuz as the US completes a ninth night of strikes, pushing the Middle East closer to all-out war amid rising oil prices.
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Trump Seeks Allies’ Help for Strait of Hormuz Amid Iran Conflict
President Trump called on allies to help secure the Strait of Hormuz after Iran blocked it, but faced reluctance from key nations. Global oil prices have risen amid the conflict.
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Ras Tanura Refinery Attack Signals Escalation in Middle East War
Saudi Arabia’s vital Ras Tanura oil refinery was attacked by drones Monday, signaling a dangerous escalation in the Middle East conflict and causing global oil prices to surge significantly.
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Russia’s Fuel Export Ban Sparks Global Oil Market Turmoil
Russia’s sweeping ban on gasoline and diesel exports, triggered by unprecedented Ukrainian drone strikes, is causing domestic shortages and driving sharp volatility in global oil markets.
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Brent fell to $73.63 amid continued declines
On Monday morning, the price of Brent crude oil continued its decline, hitting $73.63 per barrel for January futures on London’s ICE Futures exchange. This marked a $0.25 (0.34%) drop from Friday’s close, when Brent prices saw a more substantial…